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New Zealand Announces Proposed Introduction of a New Business Continuity Test for Tax Losses

|Proposed Changes|New Zealand
New Zealand

New Zealand Inland Revenue has announced the proposed introduction of a new business continuity test (BCT) for tax losses, which is meant to allow businesses better access to capital. The proposed BCT will allow losses to be carried forward unless there is a major change in the nature of the company’s business activities, having regard to the assets used and other relevant factors. Relevant factors would include business processes, use of suppliers, markets supplied to, and the type of produ…

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